Dhaka: Intel’s board elected a new Chairman, Omar Ishrak of Bangladeshi origin, with immediate effect, announced the American tech giant on January 21.
Omar Ishrak, who had grown up in Bangladesh, joined the California-based company’s board as an Independent Director in March 2017. Usually, board chairpersons serve a maximum of two to three years.
Ishrak comes at a time when the chip maker is trying to resolve supply shortages and protect its dominant market position from growing competition by rival Advanced Micro Devices Inc.
Intel has been facing some pressure and lagged behind its peers in recent times. Shares of Intel rose 29 per cent over the past 12 months while the semiconductor ETF, SMH, jumped 66 per cent in the same time period.
He is simultaneously serving as the Chairman and Chief Executive Officer of Medtronic, a medical technology company headquartered in the US, since June 2011.
Ishrak will remain as Medtronic’s Chairman of the Board and CEO through April 26, when the company’s financial year wraps up. On April 27, he will transition into the role of Executive Chairman of Medtronic.
Ishrak amassed 13 years of technology development and business management experience, holding leadership positions at Diasonics/Vingmed and various product development and engineering positions at Philips Ultrasound.
He earned a Bachelor of Science degree and PhD in electrical engineering from the University of London, King’s College.
Ishrak is also a member of the Board of Trustees of Asia Society, an educational organisation promoting mutual understanding and strengthening partnerships among peoples, leaders and institutions of Asia and the US.
Founded in 1968, Intel is the world’s second largest and second highest valued semiconductor chip manufacturer based on revenue after being overtaken by Samsung Electronics, and is the inventor of the x86 series of microprocessors, the processors found in most personal computers (PCs).